“However, I do think a bearish scenario is possible in which the price is pushed back to the Range EQ ($21.4k),” he added. “I consider that probability quite small, because the range low is around the level from after the crash of FTX, and a lot has to happen in the market to push prices back to these extreme levels,” Poppe said. This scenario also assumes that the range high has been reached, which, if abiding by the principles of “range trading,” could result in the price returning to the range low from here. The bearish scenario requires a break in the high time frame uptrend “as BTC has a lot of room to correct but still maintain the higher low structure,” according to Poppe, who noted that “a test of the $21,500-22k level would even keep the uptrend intact, so there is a lot of room for the bulls to defend.” “This would also be a great place to open new longs, targeting $28-30k as we anticipate a break of the range high.” “So for confirmation of a breakout, we prefer to see a 1D, 3D or even a weekly close above $25,300.”įurther declines from this level are nothing to worry about as long as the price stays above the previously established low, which is found at $21,400 and represents a strong demand zone, Poppe said. “What we want to see from here is for BTC to make another attempt to break through the range high, and for the price to close above this range high on higher timeframes,” Poppe said. Currently, BTC is trading below the range high and appears to be consolidating.īTC/USD 1-day chart. The bullish scenario for BTC notes that the recent range high represents a crucial area where many traders take profits, while others wait for a break of this level before opening a long position. “When the market goes up there is huge euphoria, and at the slightest correction, everyone starts screaming again that we are going to make new lows.” “As always, we see a lot of panic on social media and in various groups as the markets go through a correction,” Poppe said. trading,” according to Kitco senior technical analyst Jim Wyckoff.īut today’s pullback is no cause for panic as “The mid-week price pause is normal and not bearish,” Wyckoff said, adding that “Bulls still have the firm overall near-term technical advantage as a price uptrend is in place on the daily chart.”Įight Global founder and CEO Michaël van de Poppe noted that “the market is correcting” in his Wednesday market update and provided a bullish and bearish scenario to keep an eye on. The early weakness was evident in the futures markets, as “March Bitcoin futures prices were weaker in early U.S. The midday release of the FOMC minutes reversed the gains that the traditional market saw during the morning session and resulted in a negative performance from the S&P and Dow, which closed down 0.16% and 0.26%, respectively, while the Nasdaq managed to eke out a slight gain of 0.13% in the minutes before the closing bell.ĭata from TradingView shows that the weakness in Bitcoin (BTC) appeared prior to the FOMC release, with the top crypto falling under pressure in the opening hours on Wednesday and continuing to slide lower from there, ultimately hitting a daily low of $23,585 before climbing back above support at $23,800.īTC/USD 4-hour chart. (Kitco News) - The threat of continued interest rate hikes by the Federal Reserve finally took its toll on the cryptocurrency market as Wednesday’s release of the minutes from the last Federal Open Market Committee (FOMC) meeting showed that Fed officials remain intent on proceeding with “ongoing increases.” Also connect a keyboard, mouse, and screen to the Pi’s USB and HDMI ports.Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. With your Pi unplugged from the wall, insert the flashed SD card into it. Related: Install an Operating System on Raspberry Pi That’s exactly where the microSD card you purchased earlier comes into play. Since the Pi is sold at a razor thin margin, you’re expected to install your own storage device. We recommend this 3.5-inch TFT Raspberry Pi display for the Pi 3 or this 3.5-inch Raspberry Pi 4 display for the Pi 4.īefore configuring the Raspberry Pi to display a price ticker, an operating system must be loaded onto it. A 3.5-inch screen and case combo that connects to the Pi via the SPI interface.A keyboard, mouse, and screen to interact with the system.16GB MicroSD card for the operating system.A USB-C power supply, as recommended by the Raspberry Pi Foundation.Here’s a list of all the hardware you will need to complete this project: What You Will Need to Build a Crypto Price Ticker
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